Verve A Credit Union Mortgage Rates, Fees & Info

Oshkosh, WI

LEI: 549300P6ZERWX5BPWX45

Tax ID: 39-0711674

5 stars - Updated: 12/5/24 - out of 5 stars, based on 24 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Verve A Credit Union is a smaller credit union specializing in Home Purchase loans. Verve A Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Oshkosh, Appleton, Green Bay, Fond Du Lac, and La Crosse among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

Verve A Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Verve A Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.46% 12/5/24
30 Year Conventional Purchase 6.15% 12/5/24
30 Year Conventional Refi 6.00% 12/5/24
30 Year Cash-out Refi 6.16% 12/5/24
30 Year FHA Purchase 7.97% 12/5/24
15 Year Conventional Purchase 5.87% 12/5/24
15 Year Conventional Refi 5.58% 12/5/24
15 Year Cash-out Refi 5.58% 12/5/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Verve A Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Verve A Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

557

Origination Dollar Volume (All Markets)

$86,445,000

Awards

VERVE A CREDIT UNION 30 Year Conventional Loans bronze VERVE A CREDIT UNION 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Verve A Credit Union's average 30 year fixed mortgage rate was 6.66%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.18%.

Relative Fees (Closing Costs)

Verve A Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,571.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 222 $27,130,000 $122,207 $1,537 7.64%
APPLETON, WI (FHA|USDA|VA) 74 $16,410,000 $221,757 $1,962 7.59%
GREEN BAY, WI (FHA|USDA|VA) 11 $11,535,000 $1,048,636 $2,282 6.95%
FOND DU LAC, WI (FHA|USDA|VA) 86 $7,640,000 $88,837 $1,258 7.93%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 62 $6,090,000 $98,226 $1,468 7.03%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 19 $5,345,000 $281,316 $4,222 7.85%
Outside of Metro Areas 34 $4,120,000 $121,176 $1,670 7.50%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 13 $3,485,000 $268,077 $1,471 7.26%
Manitowoc, WI (FHA|USDA|VA) 12 $2,230,000 $185,833 $949 7.74%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $475,000 $475,000 $3,698 6.75%
Beaver Dam, WI (FHA|USDA|VA) 7 $465,000 $66,429 $1,091 7.98%
SHEBOYGAN, WI (FHA|USDA|VA) 5 $435,000 $87,000 $1,561 7.88%
Iron Mountain, MI-WI (FHA|USDA|VA) 1 $245,000 $245,000 $3,017 7.13%
MADISON, WI (FHA|USDA|VA) 3 $205,000 $68,333 $1,894 7.17%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $205,000 $205,000 $2,495 6.75%
ROCKFORD, IL (FHA|USDA|VA) 1 $165,000 $165,000 $4,085 5.88%
WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $110,000 $55,000 $0 8.53%
Stevens Point, WI (FHA|USDA|VA) 1 $85,000 $85,000 $2,290 6.63%
Shawano, WI (FHA|USDA|VA) 1 $45,000 $45,000 $1,332 6.13%
Marinette, WI-MI (FHA|USDA|VA) 1 $25,000 $25,000 $620 7.50%
Verve A Credit Union's top markets include Oshkosh, Appleton, Green Bay, Fond Du Lac, and La Crosse among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against VERVE A CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 388 $72,460,000 $186,753 $1,602 7.19%
    HELOC 169 $13,985,000 $82,751 n/a 8.49%

    For 2023, Verve A Credit Union's most frequently originated type of loan was Conventional, with 388 originations. Their 2nd most popular type was HELOC, with 169 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 155 $8,425,000 $54,355 $724 8.17%
    Home Purchase 150 $44,210,000 $294,733 $2,689 6.80%
    Other 142 $9,660,000 $68,028 $803 8.29%
    Cash Out Refi 61 $16,525,000 $270,902 $1,877 7.00%
    Refi 49 $7,625,000 $155,612 $1,378 6.81%

    For 2023, Verve A Credit Union's most frequently cited loan purpose was Home Improvement, with 155 originations. The 2nd most popular reason was Home Purchase, with 150 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 174 $13,980,000 $80,345 $2,251 8.39%
    30 Year 136 $30,100,000 $221,324 $2,571 6.66%
    15 Year 85 $6,155,000 $72,412 $969 8.09%
    10 Year 69 $2,735,000 $39,638 $736 7.80%
    5 Year 43 $21,655,000 $503,605 $759 6.81%
    Other 41 $5,455,000 $133,049 $632 6.69%
    3 Year 6 $5,730,000 $955,000 $0 6.32%
    1 Year 3 $635,000 $211,667 $0 9.17%

    For 2023, Verve A Credit Union's most frequently cited loan duration was 20 Year, with 174 originations. The 2nd most popular length was 30 Year, with 136 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 315 $39,865,000 $126,556
    $2k-3k 2 $230,000 $115,000
    $1k-2k 1 $85,000 $85,000
    $3k-4k 1 $315,000 $315,000

    Verve A Credit Union's average total fees were $2,571, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 315 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 190 $14,400,000 $75,789
    7-8% 182 $30,320,000 $166,593
    6-7% 130 $27,660,000 $212,769
    5-6% 52 $13,380,000 $257,308
    3-4% 3 $685,000 $228,333

    During 2023, Verve A Credit Union's average interest rate for loans was 6.66%, while their most frequently originated rate bucket for loans was Over 8%, with 190 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 340 $16,830,000 $49,500 $881 7.95%
    $100k-200k 115 $16,495,000 $143,435 $2,251 7.02%
    $200k-400k 66 $17,390,000 $263,485 $2,721 7.10%
    $400k-600k 18 $8,330,000 $462,778 $3,142 6.97%
    $1MM+ 10 $21,540,000 $2,154,000 $4,114 6.66%
    $600k-1MM 8 $5,860,000 $732,500 $6,731 6.53%

    2023 saw Verve A Credit Union place emphasis on $100,000 or less loans with 340 originations, totaling $16,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 141 $15,545,000 $110,248 $1,542 7.92%
    $75k-100k 117 $11,835,000 $101,154 $1,585 7.55%
    $50k-75k 103 $8,185,000 $79,466 $1,401 7.57%
    $150k-250k 64 $10,790,000 $168,594 $1,830 7.82%
    $50k or less 52 $3,120,000 $60,000 $1,363 7.70%
    $250k+ 12 $4,680,000 $390,000 $4,365 7.52%

    Verve A Credit Union lent most frequently to those with incomes in the $100k-150k range, with 141 originations. The second most popular income band? $75k-100k, with 117 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 126 $11,770,000 $93,413 $1,517 7.56%
    30-36% 119 $11,405,000 $95,840 $1,460 7.80%
    <20% 35 $3,145,000 $89,857 $1,490 7.58%
    40% 29 $3,955,000 $136,379 $1,660 7.71%
    36% 25 $3,875,000 $155,000 $1,550 8.20%
    41% 23 $2,875,000 $125,000 $1,709 8.02%
    42% 22 $2,130,000 $96,818 $1,234 8.00%
    38% 17 $2,485,000 $146,176 $2,033 7.09%
    37% 17 $1,495,000 $87,941 $1,289 7.63%
    39% 16 $1,990,000 $124,375 $2,753 8.36%
    43% 16 $2,990,000 $186,875 $1,781 7.16%
    44% 15 $1,745,000 $116,333 $2,269 7.63%
    45% 8 $720,000 $90,000 $1,946 7.83%
    48% 7 $1,915,000 $273,571 $2,559 7.16%
    46% 5 $345,000 $69,000 $1,563 7.50%
    47% 3 $365,000 $121,667 $2,185 7.71%
    49% 3 $545,000 $181,667 $3,140 8.46%
    50-60% 1 $15,000 $15,000 $484 10.75%

    Verve A Credit Union lent most frequently to those with DTI ratios of 20-30%, with 126 originations. The next most common DTI ratio? 30-36%, with 119 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 435 $46,305,000 $106,448 $1,580 7.68%
    Not applicable 66 $32,060,000 $485,758 $0 6.67%
    Not provided 45 $5,895,000 $131,000 $2,038 7.85%
    Asian 5 $1,785,000 $357,000 $1,764 7.35%
    Black 4 $250,000 $62,500 $590 8.90%
    Other Asian 1 $135,000 $135,000 $0 8.00%
    Native Hawaiian or Islander 1 $15,000 $15,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    87.41%

    Verve A Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.43%

    Verve A Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 557 $86,445,000 $155,197

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    557 $86,445,000 $155,197

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 139 $19,325,000 $139,029 $1,061 7.87%
    40-60% 51 $6,605,000 $129,510 $1,932 7.27%
    60-80% 72 $27,760,000 $385,556 $2,444 6.87%
    80-100% 87 $22,625,000 $260,057 $2,826 6.82%
    Over 100% 3 $795,000 $265,000 $0 5.59%
    Under 20% 203 $9,275,000 $45,690 $652 8.08%